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Cybercrime hits the headlines again

Cybercrime is again amongst the main stories in today’s news with a recent study finding 50% of UK business respondents having experienced economic crime, a statistic which is overshadowed by Government data proving 9 in 10 large UK businesses being successfully breached.

Written by Kieren Rai on 12th October 2016

Cybercrime hits the headlines again

Many businesses have been slow to appreciate the liability that attaches to holding data and their changing risk profile. All data is valuable and therefore should be protected and respected. Since 2010, due to high levels of constant attacks, Cyber attacks have been rated as a Tier 1 threat to UK business security.  

There is much media coverage about this ongoing and important issue, yet businesses still fail to take appropriate action. At Franklands we feel that a large part of the reason for this is that Insurance Brokers have failed in their duty to spread the word and educate their clients about these new risks.

This lack of understanding by insurance professionals also means that even those who seek appropriate cover may not be introduced to the most suitable policy from the array of insurers who are now entering the market. 

With Cyber risks becoming more complex and threats more likely, contact Franklands and speak to one of our experts.

See other blogs related to: Cyber liability

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